Malaysia legislation
Section 9G
Section 9G
(2)
Except with the prior written consent of the Registrar, the licensee shall not appoint any person for the purpose of exercising any of the rights conferred on him under the licence, or cause or permit any such person to exercise any such right.
(3)
The Registrar may authorize the transfer of a licence where—
(a)
the licensee—
(i)
being a company, is liquidated and a receiver or manager is appointed in relation to the moneylending business of the company; or
(ii)
being a society, firm or other body of persons is dissolved and a receiver or manager is appointed in relation to the moneylending business of the society, firm or other body of persons; or
(b)
for any reason the Registrar is satisfied that it would be just to do so.
(4)
Except where the Registrar has given his consent or authorization under subsection (2) or (3), the licensee who purports to transfer or assign his licence to any other person, or causes or permits any other person to use his licence or to provide the services authorized in the licence, shall be guilty of an offence under this Act and shall be liable to a fine not exceeding twenty thousand ringgit or to imprisonment for a term not exceeding twelve months or to both.
Moneylenders 25
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